1. Which statement is true? Group risk benefits:

Protect you only if you die or are disabled in an accident at work.

Are only offered to retirement fund members.

Are only offered if you sacrifice some of your salary.

Typically offer employees protection against death or disability during their employment.

2. Which statement is true. If you leave your employer …

Your group risk benefits will move to your new employer.

Your group risk can be converted to cover in your own name if your scheme has a continuation benefit.

Your group risk benefits will be shared among those remaining in the scheme.

Your group risk benefits will be unclaimed.

3. Which answer is most accurate. Group life benefits are generally cheaper than those of individual policies because

The premiums are based on an average premium rate per rand of cover for the group.

The costs of signing up a group for cover is cheaper than the costs of signing up an individual.

A and B above.

Employers ask life insurers for better prices

4. Group life benefits are often not enough to meet your need for cover because:

Employers work it out wrong.

Benefits are the same for all employees when each employee has different family sizes and income needs.

Trustees work it out wrong.

The benefits are not as good as those offered to individuals.